Argo Group International Holdings (ARGO) Initiated with a Buy at Compass Point

By Jason Carr

In a report released yesterday, Compass Point from Compass Point initiated coverage with a Buy rating on Argo Group International Holdings (ARGOResearch Report) and a price target of $41.00. The company’s shares closed last Friday at $35.87.

Argo Group International Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $41.00.

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Based on Argo Group International Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $451 million and GAAP net loss of $6.4 million. In comparison, last year the company earned revenue of $494 million and had a net profit of $28.8 million.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is neutral on the stock.

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Argo Group International Holdings Ltd. engages in underwriting property and casualty insurance and reinsurance. The company operates through following segments: Property, Liability, Professional and Specialty. The Property segment includes both property insurance and reinsurance products. The Liability segment includes a broad range of primary and excess casualty products. The Professional segment includes various professional lines products including errors and omissions, management liability and cyber coverages. The specialty segment includes niche insurance coverages including marine & energy, accident & health and surety product offerings. The company was founded in 1986 and is headquartered in Pembroke, Bermuda.